After a period of consolidation we can see NKLA starting to make another move. I'm looking for 77-80 at the end of the week/Jun 19. This ~~ 68-70 area will be key to clear to make a run to the previous highs. Note even when the SPX sold off dramatically Thurs and Mon morning, this name was not being slaughtered. Furthermore, as TSLA pushes to 1k again, there could be some rotation from there to here as a 'more speculative' name. Remember, float here is not big: 23M shares only. 3.3M shares short as of 5/29
Technically, we have a triangularish form (sometimes I like to call it a serpent head since it looks like a snake on the ground sticking it's head up. Nonetheless, we have pushed higher through this formation. MACD is beginning to turn up strong bollinger band contraction snapping wider now.
NOTE: as I was writing this I show we are nearing 70 in after-hours trading (which I don't really give much credence to but still is worth of noting)
Technically, we have a triangularish form (sometimes I like to call it a serpent head since it looks like a snake on the ground sticking it's head up. Nonetheless, we have pushed higher through this formation. MACD is beginning to turn up strong bollinger band contraction snapping wider now.
NOTE: as I was writing this I show we are nearing 70 in after-hours trading (which I don't really give much credence to but still is worth of noting)
